Telecom Italia executives apologize for news flap

Article Abstract:

Telecom Italia SpA's chairman, Gian Mario Rossignolo, and other top-level executives, have issued apologies to shareholders and investors regarding the inaccurate reporting of its three-year strategic program. The chairman maintains that it intends to conduct an internal inquiry to determine the cause as well as the people behind the inappropriate handling and circulation of company forecasts and other data. The firm likewise claims that reports that net profits for 1999 are expected to decline have no sound basis. The value of the company's stocks have dropped significantly because of the inaccurate forecasts.

Comment:

Its chairman, Gian Mario Rossignolo, & other executives issue apologies to shareholders for inaccurate reporting of forecasts

Communications, Broadcasting and Telecommunications, Telecommunications industry, Telecom Italia S.p.A., Article

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Bipop sells Azimut unit to avoid 2001 net loss

Article Abstract:

Bipop-Carire S.p.A. has divested its Azimut asset management unit to Apax Partners and Co. The deal, which is intended to prevent a net loss for Bipop for the full year, is valued at $371.5 million.

Asset sales & divestitures, Acquisitions & mergers, France, Venture Capital Companies, Miscellaneous Intermediation, Investors, not elsewhere classified, Mergers, acquisitions and divestments, Apax Partners S.A., Azimut

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Members of Bipop board step down

Article Abstract:

Bipop-Carire S.p.A.'s board of directors lost three of its members after they resigned from their posts. The resignations are part of the bank's efforts to restore confidence in its operations.

Officials and employees, Corporate directors, Appointments, resignations and dismissals

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